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Tech Ticks Higher After Mixed Earnings -- Tech Roundup

07/29/2021 | 05:02pm EDT

Shares of technology companies rose, but not by as much as the broad market, amid mixed earnings reports.

Shares of social network Facebook fell sharply as it warned that the impact of Apple's change in its operating system on iPads and iPhones would slow revenue growth in targeted advertising during the current quarter.

Shares of electric-truck maker Nikola plunged, bringing losses over the last year to more than 60%, after founder Trevor Milton was arrested on securities-fraud charges for what prosecutors said was a scheme to mislead investors about the company's product and technology development.

Allego Holding, a pan-European electric-vehicle charging network, is going public through a combination with a special-purpose acquisition company affiliated with Apollo Global Management, in a deal that values the business at $3.14 billion.

Shares of PayPal Holdings fell after the online payment concern posted earnings shy of some investors' expectations.

Shares of Chinese ride-hailing service DiDi Holdings surged amid speculation that the company would seek a private buyout to quell Beijing concerns about overseas investment.

Some investors are "buying the dip" in Chinese Internet stocks but analysts at brokerage Credit Suisse warned it may be "too early" to bargain hunt in the stocks.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

07-29-21 1701ET

Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. 1.88% 62.41 Delayed Quote.25.07%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.11.93%
FACEBOOK INC 2.02% 352.96 Delayed Quote.29.21%
PAYPAL HOLDINGS, INC. -0.35% 278.11 Delayed Quote.19.17%
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